Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Atlassian Corporation PLC $TEAM

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 13.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,482 shares of the technology company’s stock after selling 6,979 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Atlassian were worth $3,036,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TEAM. Vanguard Group Inc. boosted its stake in shares of Atlassian by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock valued at $3,006,281,000 after buying an additional 61,706 shares during the period. Baillie Gifford & Co. increased its stake in shares of Atlassian by 3.9% during the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after buying an additional 316,276 shares during the period. AQR Capital Management LLC increased its stake in shares of Atlassian by 291.4% during the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after buying an additional 5,769,788 shares during the period. Pictet Asset Management Holding SA raised its holdings in Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after acquiring an additional 1,080,561 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after acquiring an additional 1,657,309 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays boosted their price target on shares of Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Friday, July 17th. KeyCorp lowered their target price on shares of Atlassian from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Cantor Fitzgerald increased their target price on Atlassian from $98.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Canaccord Genuity Group cut their price target on Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Twenty-one analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.50.

Insider Activity

In other news, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 20,041 shares of company stock worth $1,801,069. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Down 5.9%

Shares of NASDAQ:TEAM opened at $98.12 on Friday. The firm has a 50 day simple moving average of $90.18 and a 200-day simple moving average of $87.36. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $199.09. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $24.90 billion, a PE ratio of -118.22, a P/E/G ratio of 8.28 and a beta of 1.11.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue was up 31.7% on a year-over-year basis. On average, equities analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.